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Jan 16, 2013
01/13
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the economy is bad enough now. we'll see how to does after the mind set takes over. >> thank you, david. thank you for coming today. thanks for your remarks. obviously, this is a global economy and financial services, especially it's important to look at it from a global perspective, and it was very useful i think for you to remind us of the comment about europeans especially lit japanese had on the folker rule. with respect to the money market and mutual funds. there's talk of european action here in the near future. i was wondering for you have any advice to our friends across the ocean as far as action or whatnot with respect to the fc correcting might be thinking in doing? >> thank you, mr. commissioner, for your question. i was in london and dublin. i don't know which jurisdiction was interested in the money market fund debate. it's a big industry in both of the locals. and, you know, in both places i was told by industry as well as high level government officials at the ec on the cusp of releasing consultatio
the economy is bad enough now. we'll see how to does after the mind set takes over. >> thank you, david. thank you for coming today. thanks for your remarks. obviously, this is a global economy and financial services, especially it's important to look at it from a global perspective, and it was very useful i think for you to remind us of the comment about europeans especially lit japanese had on the folker rule. with respect to the money market and mutual funds. there's talk of european...
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Jan 18, 2013
01/13
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the cap should go up when the economy is strong, and be adjusted down when the economy is not. as i mentioned, we need to expand the number of green cards to foreign nationals who graduate from our colleges and universities with advanced degrees. even with high unemployment we have millions of job openings that go unfilled. the the the workers come here to fill those jobs, or let me tell you, ladies and gentlemen, those jobs go somewhere else. and when they do, other jobs go with them. we also need a workable, reliable national employee verification program. now, they be verified brough rand has been dramatically improved. we are ready to beam -- to move forward with it nationally, provided there is strong preemption language to stay a local laws, no obligation to read verifies the whole -- i know countries with 35, 50,000 employees who certainly don't have to do that. and we need safe harbor for good ethics by employers. finally, we need to provide a path out of the shadows for 11 million undocumented immigrants who live in the united states today. with the understanding that
the cap should go up when the economy is strong, and be adjusted down when the economy is not. as i mentioned, we need to expand the number of green cards to foreign nationals who graduate from our colleges and universities with advanced degrees. even with high unemployment we have millions of job openings that go unfilled. the the the workers come here to fill those jobs, or let me tell you, ladies and gentlemen, those jobs go somewhere else. and when they do, other jobs go with them. we also...
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Jan 16, 2013
01/13
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economy. at the same time with quite a bit to do to address our long-term sustainability issues. a lot more work to do, let me be very clear about that. but it's going to be a long haul. it's not going to happen overnight. basically because the government budget represents the values and priorities of the public, and decisions been made about what to spend on, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use -- those issues of course are not the specific purdy of the fed, and so why do we shift gears and talk more specifically about some things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that the fed of course is keeping interest rates at close to zero since roughly 2008, and it dug pretty deep into its arsenal, more recently in terms of in particular the very massive asset purchases recently launched its third round, which are intended to bring long-term inter
economy. at the same time with quite a bit to do to address our long-term sustainability issues. a lot more work to do, let me be very clear about that. but it's going to be a long haul. it's not going to happen overnight. basically because the government budget represents the values and priorities of the public, and decisions been made about what to spend on, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use...
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Jan 15, 2013
01/13
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economy. if i were a cubin i sure would like that to continue, and i would do everything i could to to get that to continue i think it is waning and it hit a high water mark and it is reseeding and i think that serves certainly the purposes of the united states and i think that's fine. i don't blame the countries that are receiving subsidized oil shipments. i would love for somebody to subsidize, you know, the things that i need to buy. that's in their own self-interest and the need to be thinking about what's going to happen because let's go back. if you take some of the data talked about on the economy, and you are the next, you are the government of venezuela, the easiest place to cut back is where you are getting away. if i am the recipient of that oil, i would be worried right now. that's just in the self-interest of the government of venezuela if you have a deficit, you know, stop giving away, stop subsidizing sales to people. that would be the logical thing to do. and if you had a gover
economy. if i were a cubin i sure would like that to continue, and i would do everything i could to to get that to continue i think it is waning and it hit a high water mark and it is reseeding and i think that serves certainly the purposes of the united states and i think that's fine. i don't blame the countries that are receiving subsidized oil shipments. i would love for somebody to subsidize, you know, the things that i need to buy. that's in their own self-interest and the need to be...
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Jan 17, 2013
01/13
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it has to be transmitted into the economy. and when i don't have to and sent people to step on the accelerator, to create more jobs, that's a matter of having to write laws, right regulation, right tax incentives and so on. but it has to be transmitted through the banking system. and these banks that were in such deep trouble and controlled so much of the industry's assets have been focused on other things. so they are interfering with the effectiveness as i mentioned in my speech. if you can get people to understand that this is holding back and hurting job creation in our district, then i think you might have a little bit more political support. i believe the support is gaining ground. it's not just a question of fairness, it's a question of efficacy. and i believe it is gaining ground. [inaudible] >> lookup of volcker rule. how do sort of seeing -- ibex but that's up to people on the hill and the people who want to support this effort. i take a single -- simply which i have come it takes a sixth grader to write it. it may m
it has to be transmitted into the economy. and when i don't have to and sent people to step on the accelerator, to create more jobs, that's a matter of having to write laws, right regulation, right tax incentives and so on. but it has to be transmitted through the banking system. and these banks that were in such deep trouble and controlled so much of the industry's assets have been focused on other things. so they are interfering with the effectiveness as i mentioned in my speech. if you can...